Policy support is essential to sustain and continue the momentum of export growth: Kochi

  • Desk Report

BGMEA President SM Mannan (Kochi) said the apparel industry is at a crossroads now due to the acute geopolitical crisis and the resulting instability in global trade. Consumer demand for clothing and spending on clothing in developed countries has declined. On the contrary, the cost of the industry has increased manifold due to various reasons arising at the international and local level.

Policy support is essential to sustain the industry and continue the momentum of export growth
Figure: BGMEA delegation led by BGMEA president met State Minister for Commerce Ahsanul Islam Titu MP on May 8.

In this situation, it is very important to provide policy support to sustain the industry and to continue the growth of exports, as well as to make business processes faster and easier to save time and cost, especially business processes including quick clearance of imported raw materials, machinery and equipment.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President SM Mannan (Kochi) led a delegation of BGMEA on Wednesday (May 8) meeting State Minister for Commerce Ahsanul Islam Titu MP at the Secretariat office and said these things.

He said, the more favorable the business environment in the country, the more success there will be in the export sector and the economy will benefit from it.

The BGMEA President emphasized on supportive revenue policies for export oriented industries, uninterrupted supply of gas and electricity to industries to maintain the competitiveness of the industry. The meeting also discussed the preparations of the garment sector after the LDC.

SM Mannan (Kochi) said, “Transition from underdeveloped countries will no longer have various trade benefits after 2026. So at least till 2026 if we can increase investment in potential sectors through various policy support, that will be a timely strategy for us.”

He also requested the Minister of State for Commerce to initiate food rationing for garment workers under the leadership of the Ministry of Commerce. The BGMEA President called upon the government to give more importance to the areas of protection of the garment sector and increase of exports to secure the growth of the economy as a whole.

Among others in the delegation were Khandaker Rafiqul Islam, Senior Vice President; Md. Nasir Uddin, Vice President (Finance); Abdullah Hill Rakib, Vice President and Imranur Rahman, Mohammad Sohel Sadat, Md. Ashiqur Rahman (Tuhin), Shams Mahmud, Md. Nurul Islam, Saifuddin Siddiqui Sagar and Md. Rezaul Alam (Miru) among the BGMEA directors.

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